EnGold Drills 1.5 m of 7.51 gpt Gold at Road Gold, Lac La Hache
For Immediate Release. March 17, 2022. Vancouver, BC. David H. Brett, President & CEO, EnGold Mines Ltd., (TSX-V: EGM, “EnGold” or the “Company”) reports assays from shallow drilling at the Road Gold Zone has returned results of 7.51 grams per ton gold over 1.5 metres within a broader intercept of 5.5 m grading 2.2 gpt gold in hole R21-03 between 55 m and 60.5 m down hole. Full results of the two holes drilled at Road Gold in 2021 are reported in the table below. Road Gold lies within the Company’s 100% owned Lac La Hache Property in the southern Cariboo region of BC.
“These near-surface multi-gram gold results confirm Road Gold as a prospective target for follow up drilling,” said EnGold VP Ex Rob Shives, P.Geo. “We are still interpreting the Road Gold structure as it relates to a 1.8 km geophysical anomaly, indicating potentially significant strike extent.”
The Road Gold showing lies on part of an 1800 meter long, N-S trending, linear magnetic low, interpreted as a fault controlled, magnetite-destructive, potassic alteration corridor. The width of the magnetic low at Road Gold is 80 m (see attached figure). Bedrock grab samples were collected across a 30 m portion of the low where overburden depth allowed, and these averaged 2.0 gpt Au. Shallow drilling to date has encountered strong potassic alteration within fine grained volcanic rocks, but intense fracturing, faulting and blocky drill core prevented completion of the first three holes. Result to date are encouraging, suggesting additional testing at Road Gold and elsewhere along the structure is warranted.
“Road Gold is a recent discovery on the Lac La Hache Property that underscores the abundance of potentially economic mineral deposits and occurrences along the Property’s 10 km prospective trend,” said EnGold President & CEO David Brett. “The Spout and G1 Copper skarn deposits, Ann North porphyry copper, Aurizon South & Aurizon Central gold (copper-silver) hydrothermal breccia zones and other prospects, are all related to the Alkalic Porphyry system underlying the Property. Our current, deep drilling program is testing depth extent under several zones.”
All drill intervals reported are core lengths only as the true width of the structure has not yet been fully determined.
Table 1: Weighted Assays Results from 2021 Shallow Drilling, Road Gold.
|
DDH |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
Ag (g/t) |
|
R21-03 |
55.00 |
60.50 |
5.50 |
0.03 |
2.2 |
0.55 |
|
incl |
59.00 |
60.50 |
1.50 |
0.05 |
7.51 |
1.60 |
|
R21-04 |
25.00 |
33.00 |
8.00 |
0.09 |
0.08 |
0.73 |
|
incl |
25.00 |
27.00 |
2.00 |
0.07 |
1.26 |
0.70 |
|
incl |
31.00 |
33.00 |
2.00 |
0.10 |
1.24 |
0.80 |
Rob Shives P.Geo., VP Exploration and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.
About EnGold
EnGold is a Vancouver-based copper, gold, silver, magnetite exploration company focused solely on its 100% owned Lac La Hache property in the Cariboo region of BC which hosts the Spout Copper Deposit, the Aurizon Gold Deposit and the G1 Copper Deposit and other targets within a large porphyry mineralizing system. With world class infrastructure at its doorstep, Lac La Hache is a great location to be exploring.
EnGold Mines Ltd.
David Brett
President & CEO
For further info contact David Brett, 604-682-2421 or david@engold.ca
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Forward-looking statements include, but are not limited to, the expected use of proceeds of the financing. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which EnGold will operate in the future. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, the global economic climate, dilution, share price volatility and competition. Although EnGold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. EnGold does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.